California Public Employees Retirement System Cuts Stake in Sohu.com Inc. (SOHU)
California Public Employees Retirement System decreased its position in Sohu.com Inc. (NASDAQ:SOHU) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,500 shares of the company’s stock after selling 2,400 shares during the period. California Public Employees Retirement System owned about 0.24% of Sohu.com worth $4,049,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Acrospire Investment Management LLC boosted its stake in shares of Sohu.com by 107.7% in the second quarter. Acrospire Investment Management LLC now owns 2,700 shares of the company’s stock worth $102,000 after buying an additional 1,400 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Sohu.com by 248.9% in the second quarter. Royal Bank of Canada now owns 3,049 shares of the company’s stock worth $116,000 after buying an additional 2,175 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Sohu.com during the second quarter worth approximately $250,000. Parametrica Management Ltd purchased a new stake in shares of Sohu.com during the third quarter worth approximately $262,000. Finally, Nomura Holdings Inc. boosted its stake in shares of Sohu.com by 83.4% in the second quarter. Nomura Holdings Inc. now owns 8,987 shares of the company’s stock worth $337,000 after buying an additional 4,087 shares in the last quarter. 64.56% of the stock is owned by institutional investors.
Shares of Sohu.com Inc. (NASDAQ:SOHU) traded up 1.77% during trading on Tuesday, hitting $35.05. The company had a trading volume of 165,706 shares. The firm’s market capitalization is $1.36 billion. The stock’s 50-day moving average is $38.03 and its 200 day moving average is $39.71. Sohu.com Inc. has a 52-week low of $33.84 and a 52-week high of $59.50.
Sohu.com (NASDAQ:SOHU) last issued its quarterly earnings data on Monday, October 24th. The company reported ($1.68) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.22) by $0.54. Sohu.com had a negative net margin of 11.06% and a negative return on equity of 11.13%. The business earned $411 million during the quarter, compared to analysts’ expectations of $420.03 million. During the same period last year, the company posted $1.27 EPS. The company’s revenue was down 21.4% on a year-over-year basis. Equities research analysts predict that Sohu.com Inc. will post ($6.10) earnings per share for the current fiscal year.
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SOHU has been the subject of a number of recent research reports. Deutsche Bank AG initiated coverage on Sohu.com in a research note on Friday, September 9th. They set a “buy” rating and a $53.30 price objective for the company. Zacks Investment Research upgraded Sohu.com from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. TheStreet lowered Sohu.com from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $40.00 price objective on shares of Sohu.com in a research note on Wednesday, August 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $45.83.
Sohu.com Inc (Sohu) is an online media, search and game service company providing online products and services on personal computers (PCs) and mobile devices in the People’s Republic of China (the PRC). The Company operates through three segments: the Sohu segment; the Sogou segment, and the Changyou segment.
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